IRAs

To start, these clients are advised to start saving as early and contribute enough to their 401(k)s to qualify for their employer's matching contribution.

Designating charities as a beneficiary of their retirement accounts is one strategy that can enhance their tax savings.

“It is really as important for plans to get people thinking about income rather than just accumulation,” an expert says.

Older clients who have lost a job prior to retirement are advised to first consider filing for unemployment insurance and begin making revisions to their budget.

Some tax credits are refundable, meaning they can get a refund in case the credits exceed their actual tax liability.

Seniors choosing between traditional and Roth IRAs must account for their current and future tax rates.

The Social Security retirement rate is based on their highest 35 years of wage-indexed earnings.

Pre-retirees may consider funding a Roth account to take advantage of tax-free compounding and tax-exempt withdrawals in retirement, an expert writes.

A Roth conversion “not only to minimize heirs’ tax burden but also to sustain the growth of [their] retirement savings."

The sweeping retirement legislation, called the Secure Act, is gaining plenty of headlines. One revision is being overlooked.

Taking advantage of catch-up contributions is one of several methods that can help them get back on track.

The HSA has become increasingly valuable for future medical expenses, "and the triple tax benefit simply can’t be ignored,” an expert says.

They are advised to consider making amendments if they want to take advantage of temporary tax provisions that Congress extended retroactively in December.

Retirees can reverse their claiming decision, but not without considering one important caveat.

Advisors can protect clients’ estate planning goals post-Secure Act but the vehicle will have to change.

While it’s recommended they have at least three sources when they retire, just 6.8% of savers have done so, according to a report.

While they don't need a child to claim the earned income tax credit, the benefit's value increases based on the number of kids clients have.

Relief comes as a result of the short notice firms were originally given to comply with the Secure Act, the agency says.

Retirement savers stand to gain more by investing their money instead of taking an interest-free reimbursement.

Salary increases can make long-term planning more complicated if investors boost their lifestyle instead of their savings, an expert warns.